Buffalo’s experience echoes other metro markets across the U.S. as buyers run up against a relatively low supply of homes for sale. According to real-estate firm Redfin, white-hot markets such as San Francisco and San Jose saw almost 70% of homes recently sell above their list price.

But bidding wars may be where Buffalo’s similarity to super-hot metros ends. According to the Buffalo area Realtor group, the local average sales price hit about $144,000 in April, while the median price reached $117,000. In San Francisco, the median sales price recently hit $920,000, according to Redfin.

Housing inventory in markets across the U.S. is low for a variety of reasons. Some sellers are keeping their homes off the market, biding their time until prices rise. Others, who don’t have enough equity, simply can’t afford to sell their home and pay closing costs. And then there are the owners who refinanced into an ultra-cheap mortgage over the last couple of years and are now reluctant to give up their inexpensive loans.